Deep-pocketed investors have adopted a bearish approach towards Nike NKE, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NKE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Nike. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 47% leaning bullish and 52% bearish. Among these notable options, 14 are puts, totaling $930,625, and 3 are calls, amounting to $2,966,470.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $87.5 to $125.0 for Nike over the last 3 months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Nike's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Nike's substantial trades, within a strike price spectrum from $87.5 to $125.0 over the preceding 30 days.
Nike 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NKE | CALL | TRADE | BEARISH | 11/17/23 | $87.50 | $2.8M | 387 | 0 |
| NKE | PUT | TRADE | BULLISH | 04/19/24 | $125.00 | $267.7K | 2 | 0 |
| NKE | PUT | SWEEP | BEARISH | 12/01/23 | $109.00 | $103.5K | 74 | 0 |
| NKE | PUT | SWEEP | BULLISH | 01/19/24 | $115.00 | $53.1K | 1.0K | 396 |
| NKE | PUT | SWEEP | NEUTRAL | 01/19/24 | $115.00 | $51.5K | 1.0K | 281 |
About Nike
Nike is the largest athletic footwear and apparel brand in the world. Key categories include basketball, running, and football (soccer). Footwear generates about two thirds of its sales. Its brands include Nike, Jordan, and Converse (casual footwear). Nike sells products worldwide through company-owned stores, franchised stores, and third-party retailers. The firm also operates e-commerce platforms in more than 40 countries. Nearly all its production is outsourced to contract manufacturers in more than 30 countries. Nike was founded in 1964 and is based in Beaverton, Oregon.
In light of the recent options history for Nike, it's now appropriate to focus on the company itself. We aim to explore its current standing in the market and gather opinions from analysts on the stock.
Where Is Nike Standing Right Now?
- Trading volume stands at 2,830,378, with NKE's price down by -1.09%, positioned at $108.2.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 40 days.
Professional Analyst Ratings for Nike
In the last month, 1 experts released ratings on this stock with an average target price of $124.0.
- Reflecting concerns, an analyst from Evercore ISI Group lowers its rating to Outperform with a new price target of $124.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Nike, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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